Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h −0.002%

Price spread now: Lighter against GRVT−0.023%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$7as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$150.146% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.035%−$3 · spread now −0.023%, 7d avg −0.057%

Together, before fees+0.043%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.034% dearer against GRVT than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MU_USDT_Perp	1,052.3	0	get 0.0000% / 8h	5h 09m	$85K	$1.3M	10x
Short	Lighter MU	1,052	0.0056	get 0.0007% / 1h	9m 09s	$1.1M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GRVTbpFee LighterbpOrdersPrice spread, now −0.023%Rate

Funding earned: $11.76
Price spread: −0.023% → −0.057%: $3.44
Slippage, 4 orders: −$5.63
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.57
Costs to cover: 0.146%
Break-even: 6.7 days

Slippage from GRVT: live order book, 4 min ago; Lighter: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GRVT live order book, 4 min ago	0.81 bp	7.8 bp −$8	10.0 bp −$100	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.43 bp	0.4 bp $0	0.8 bp −$8	13.6 bp −$1,355	doesn't fit

MU on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MUUSDC	−0.0620%	4h	1,051.9	−0.040%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.3	+0.002%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.1	−0.021%	$62.0M	$27.6M	75x	as long as short
GRVT MU_USDT_Perplong	0.0000%	8h	1,052.3	long leg	$85K	$1.3M	10x
StandX MU-USD	0.0000%	1h	1,052.1	−0.019%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053.9	+0.150%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.9	−0.033%	$68K	$386K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052	−0.030%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0005%	8h	1,052.5	+0.023%	$19.2M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	+0.0018%	8h	1,052.2	−0.007%	$31.1M	$99.9M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0018%	1h	1,051.3	−0.093%	$3K	$45K	10x	as long as short
QFEX MU-USD	+0.0030%	1h	1,052.1	−0.022%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.1	−0.020%	$1.3M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.087%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.7	−0.058%	$71K	$235K	10x	as long as short
Aster MUUSD1	+0.0044%	8h	1,052.2	−0.003%	$21.4M	$54.5M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.3	+0.096%	—	$175K	25x	as long as short
Nado MU-PERP	+0.0049%	1h	1,051.8	−0.047%	$282K	$845K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	−0.036%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052	−0.028%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.4	−0.081%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,052.3	−0.002%	$2K	—	5x	as long as short
Lighter MUshort	+0.0056%	1h	1,052	−0.023%	$1.1M	$5.1M	20x
tradeXYZ xyz:MU	+0.0061%	1h	1,051.9	−0.036%	$178.5M	$98.9M	10x	as long as short
Bullet MU-USD	+0.0066%	1h	1,052.3	0.000%	$25K	$398K	10x	as long as short
Extended MU_24_5-USD	+0.0072%	1h	1,051.7	−0.056%	$564K	$1.1M	10x	as long as short
Variational Omni MU	+0.0081%	8h	1,051.9	−0.036%	$2.7M	$2.4M	—	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,051.9	−0.032%	$758K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052	−0.029%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052	−0.028%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051.8	−0.043%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.1	−0.019%	$836	$799	20x	as long as short
Binance MUUSDT	+0.0110%	8h	1,052.2	−0.005%	$126.6M	$518.2M	50x	as long as short
Aevo MU-PERP	+0.0112%	1h	1,051.8	−0.050%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0128%	8h	1,052.1	−0.016%	$20.6M	$41.1M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,051.7	−0.055%	$538K	$271K	15x	as long as short
BloFin MU-USDT	+0.0230%	8h	1,052.1	−0.013%	$1.5M	$2.0M	20x	as long as short